Sunday, October 5, 2008

"Trickle Up Economy?"

by jwright~

Trickle Up Economy? I snicker just thinking about it, sorry... I digress.

Presidential hopeful Senator Barack Obama’s web site states:

Provide Middle Class Americans Tax Relief
Obama and Biden will cut income taxes by $1,000 for working families to offset the payroll tax they pay.
Provide a Tax Cut for Working Families: Obama and Biden will restore fairness to the tax code and provide 150 million workers the tax relief they need. Obama and Biden will create a new "Making Work Pay" tax credit of up to $500 per person, or $1,000 per working family.

The "Making Work Pay" tax credit will completely eliminate income taxes for 10 million Americans.

“Up to” are key words boys and girls, what if it’s only $188 depending on your previous year’s income. And IF all 150 million workers do receive $500 each in federal welfare, aka “tax relief,” where is Obama going to find the money now with the recent brouhaha in D.C. and the huge $700-billion Wall Street bailout? Will he and Joe Biden insist on increasing the federal deficit even more by borrowing the non-existent dollars? Certainly they aren’t willing to CUT any of the excessive spending they have espoused in their campaign promises. Or to lower their expectations of what grand social advances they can achieve, at least based on their non-responses in the last two debates when asked a simple question; in these questionable economic times what of your proposed programs do you intend to eliminate or cut? (I didn't hear an answer.)

As far as “Growing the Economy From the Bottom Up” as they propose, are most of you like me? In my lifetime, every job I ever held was a result of being hired by a businessman or his personnel manager. I never had a “man on the street” pay my wages. Am I the exception?


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